I had questions about arena, but learning through doing works, Sorry, I can't find the delete thread button

I have one! What happens when you bid? And apply? For Manual?

You can only bid in manual mode. If you do this you join the list of pets waiting to be challenged, but instead of the cogs Icon you have a crossed swords icon. Your bid amount is displayed. I think if somebody chooses to challenge you, you fight head to head, with the winner gaining the bid number of silver, and the loser losing that number, but so far nobody has challenged me so I can check.

Easier way of making money is with a bet expert cockatrice on auto.